Information from a very high level exec says they see then end coming soon. The $1B in liquidity will not be enough for the creditors come June. Even if they did have the cash flow the execs are not up for the work it will take to build the brand back up. Its time to cash out and move on and let the next team of leaders come in and fix it. Just as Kathy came in to "fix" Frissora's mess someone will be paid greatly to come fix Kathy's mess. The front line will continue to suffer. The few they do bring back will be asked to do twice the work for less pay. Bonuses for managers will be unachievable. It will be a long road ahead and Hertz will make it out but be ready for lot of new faces leading the charge.
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I will be that NEW FACE. I will be that SCUMBAG CSR who never gets in trouble for scamming good decent people that rent cars. I will be that SCUM DIRTBAG who never changes his uniform only to wear it week in and week out before doing the laundry. I will be that douschbag who says the cars clean when we all know they just vacuum it out. I will be that GREAT GUY who really will act like he cares when a guy says, "well, i am a Presidents Circle, I get a free upgrade". Yeh, like I will give him one for free as i starve my kids at home FU renters.
Exactly, fire 11000. Take the federal aid after that to keep the rest as per required terms. C-suite mantra in Corporate America.
Serious question. With the airline industry, the fed is supposedly providing financial aid but the airlines aren't supposed to lay anyone off. That's the stipulation I hear. Could Hertz have skipped this deal in round 1, fired thousands, and now be looking for federal aid for round 2? Where they agree not to lay workers off (because they already laid everyone off) in exchange for aid? It seems like the underhanded sort of thing I wouldn't put past them. Thoughts?
Outsiders see that clearly also based on what they have done to the company and the employees.
Is that what that new team of lawyers is working on?